: Average credit scores for used-car loans (689) are typically lower than for new-car loans (753), making used vehicles a more common target for this score. 2. Expected Interest Rates (2026 Estimates)
Borrowers in the 601–660 range typically pay a premium on interest compared to those with higher scores: Vehicle Type Average APR (601–660 Score) Comparison (Prime 661–780 Score) Used Car 3. Impact on Your Monthly Payment is 630 a good credit score to buy a car
A lower credit score can significantly increase the total cost of ownership. For example, on a $20,000 used-car loan, a subprime borrower might pay nearly double the total interest of a prime borrower over five years. 630 Credit Score: Is it Good or Bad? - Experian : Average credit scores for used-car loans (689)
: While roughly 69% of financed cars go to borrowers with scores of 661 or higher, lenders specializing in subprime or near-prime lending frequently work with scores in the 630 range. Impact on Your Monthly Payment A lower credit
In this article. How to improve your 630 Credit Score. From Fair to anywhere: Raising your credit score. Past deeds (and misdeeds)